The EGX 30 had climbed 1.6% in its opening session for the year on Monday on the back of some short lived optimism. The market's broader index, the EGX 70, also recorded losses of 0.58% closing at 417.37 points.

Trading volume recorded only 31 million shares with a value of LE 107 million and the market’s top gainer was the International Company for Investment and Development climbing 7.65% and closing at LE 35.59. Meanwhile the market worst performer was Medical Packaging Company losing 8.09% of its value to close at LE 3.41.

Index heavyweights Orascom Construction Industries and Commercial International Bank lost 0.42% and 0.74% of their value respectively. bt